UPAY (UPYY) Form 10-Q — Oct 20, 2026
UPAY's fiscal Q2 10-Q shows revenue up 51% to $285,256, helped by the June 2026 Acheron Systems acquisition, but the company remains deeply unprofitable with a $770,446 quarterly net loss versus $117,252 a year ago. The loss was driven mainly by a $515,595 non-cash charge from settling related-party notes through the issuance of 1,000,000 shares, plus a 97% jump in G&A to $426,234. Management discloses substantial doubt about going concern, a $144,731 working capital deficit, and an estimated $350,000 funding need over the next twelve months with no committed financing.
Key figures
- Revenue
- 285256
- Total Debt
- 128300
- Revenue Yoy
- 51.0%
- Total Assets
- 283761
- Cash Position
- 117304
- Shares Offered
- 1000000
- Gross margin q
- 65.2% vs 76.1% prior year
- Six month revenue
- 511603
- Six month net loss
- 885886
- Accumulated deficit
- 4452327
- Defaulted principal
- 128300
- Stockholders deficit
- 282410
- Capital need 12 months
- 350000
- Customer concentration
- four customers ~46% of six-month revenue; largest customer 21%
- Working capital deficit
- 144731
- Loss on notes settlement
- 515595
- Defaulted accrued interest
- 45606
- Acheron revenue contribution
- 42776
AI analysis
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